The Euro
The Euro became valid on 01/01/1999 but the coins and notes were first introduced on 01/01/2002. The Euro completely replaced the old currency on 01/07/2002; the old currency wasn't valid anymore. The countries that are participating and qualify to be a part of the economic and monetary union are, Belgium, Germany, Spain, France, Ireland, Italy, Luxemburg, The Netherlands, Austria, Portugal and Finland. One Euro is equal to 40.3399 BEF, 1.95583 DEM, 340.750 GRD, 166.386 ESP, 6.55957 FRF, .787654 IEP, 1936.27 ITL, 40.3399 LUF, 2.20371 NLG, 13.7603 ATS, 200.482 PTE, and 5.94573 FIM. The change in the currency affected the economy of the entire world in good and bad ways. Especially the states involved, some important factors changed in the everyday life. Things like the rent, the automobile market, Social security, and other things. The Euro affected the renting of apartments and other facilities. During the changeover from a currency to the euro, the landowners couldn't change the contract that they had with the people who rent. The only thing that changed for them was the way of paying. After the changeover the landowners and the people who rent had to make changes in the contracts, but all that depended on
The tourist business is an important Economic factor in Europe. Four of the Euro states France, Spain, Austria, and Italy are few of the most visited ones. Now because of the change the competition is becoming greater and greater, so the consumers can profit from that. The consumers can now clearly see from what country it's the cheapest to travel to the desired destination, they can pick an Italian travel agency and travel with them because it's cheaper or a German one, the choices are much greater now. For example if a person goes to a German travel agency and wants to go on a vacation in Italy, they pay the German agency in DM and the agency has to change it in to Italian currency and the agency has to charge you for that. That is now unnecessary and therefore traveling has become cheaper. The risk of falling value of money is also no problem anymore. While you give money to the travel agency the value of the money could change, so the agency would have to charge you more, but thanks to the unification that risk is terminated. The Automobile market was affected positively for the consumers by the change. It is easier to compare the values of automobiles in all the Euro states then it was ever before. Sometimes it would pay off to go and buy a car in another country because it was cheaper, but through the unification the transparency of the price on automobiles will force car dealers to lower their prices to prevent the loss of customers. But in the future there will be no fixed prices on automobiles in the Euro states, due to the different taxes in different states, but some will profit and others won't. All kinds of different money machines like soft drink machines, cigarettes machines, and ATM machines are going to be changed for the Euro. That w
Some common words found in the essay are:
Austria Italy, Finland Euro, Euro Euro, Libraries Money, Euro Sometimes, Europe's Economy, travel agency, money machines, agency charge, euro currency, monetary union, changed euro, public spending, consumers pay, value money, automobile market,
Approximate Word count = 1201
Approximate Pages = 5 (250 words per page double spaced)
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